Published 17:17 IST, December 18th 2024
Vishal Mega Mart Gets Bumper Listing; Rs 15000 Becomes Rs 21K Overnight—Details.
Ahead of the listing, Vishal Mega Mart shares were trading at Rs 100 in the grey market, reflecting a premium of Rs 22 over the issue price of Rs 78.
- Companies
- 2 min read
Vishal Mega Mart shares made a remarkable debut on the NSE and BSE. On the NSE, shares opened at Rs 104, a 33.33 per cent increase from the issue price of Rs 78. On the BSE, the stock started at Rs 110, up 41.03 per cent. The company’s market valuation reached Rs 47,138.66 crore.
Ahead of the listing, Vishal Mega Mart shares were trading at Rs 100 in the grey market, reflecting a premium of Rs 22 or 28.21 per cent over the issue price of Rs 78. This performance aligned with market expectations.
Vishal Mega Mart: IPO Demand and Subscription
The Rs 8,000 crore IPO, entirely an offer-for-sale (OFS), was available for subscription from December 11 to December 13, 2024. Priced between Rs 74 and Rs 78 per share with a lot size of 190 shares, it was oversubscribed 27.28 times.
- Qualified Institutional Buyers (QIBs): 80.75 times
- Non-Institutional Investors (NIIs): 14.24 times
- Retail Individual Investors (RIIs): 2.31 times
The IPO received favorable reviews from brokerages like Bajaj Broking, Swastika Investmart, and Master Capital Services. Analysts expressed optimism about the company’s long-term prospects, citing its robust business model and market positioning.
About Vishal Mega Mart
Vishal Mega Mart is a leading hypermarket chain operating 645 stores across 414 cities in India. Catering to middle- and lower-middle-income consumers, it offers a wide range of products through both physical stores and an online platform. As of September 30, 2024, the company employed 16,537 people and had a presence in 28 states and two union territories.
Updated 17:17 IST, December 18th 2024